Foxconn Singapore invests USD 37.2 million in Indian subsidiary

Foxconn Singapore Pte Ltd has infused USD 37.2 million into its Indian subsidiary by acquiring approximately 351.73 million shares, according to a regulatory filing.

The investment, funded through private capital, has been classified as a long-term investment by the company.

Foxconn, formally known as Hon Hai Technology Group of Taiwan, is the world’s largest contract electronics manufacturer and a key manufacturing partner for global technology companies, including Apple, Microsoft, and Sony.

The company said the investment does not result in any change to its business operations or business model. It also stated that there were no dissenting views from members of its board regarding the transaction.

Following the share acquisition, Foxconn Singapore now holds a 99.99999996 per cent stake in Foxconn Hon Hai Technology India Mega Development Private Limited, with the investment valued at approximately USD 2.82 billion.